In a video, President Bongbong Marcos says Zaldy Co’s assets are frozen.
President Bongbong Marcos revealed freeze orders to the assets of Zaldy Co worth PHP 12 billion, including his air assets.
Former Ako Bicol party-list Rep. Zaldy Co faces arrest warrants in relation to the anomalies in the flood control projects of the Department of Public Works and Highways (DPWH). According to claims, he received billions.
His current location remains unknown, and in a previous article, his three air assets have been flown out of the country already.
As of the latest, the Anti-Money Laundering Council (AMLC) has received freeze orders on the assets of Co worth PHP 12 billion. These were the assets linked to the corruption probes, and these included the air assets of the former lawmaker.
In a video statement on Wednesday, November 26, President Bongbong Marcos revealed that this included his air assets worth PHP 4 billion, 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real properties, and 16 e-wallet accounts.
As per the president, this is only the start. He said, “The money of the people will be given back to the people.”
AMLC Executive Director Matthew David expressed that the freeze orders will enable “AMLC to pursue a more extensive financial investigation to uncover any possible money laundering scheme linked to the flood control projects.”
The total amount is anticipated to rise following the latest freeze orders.
Meanwhile, previously, Co accused Marcos of being responsible for a PHP 100 billion insertion into the 2025 budget. Amid his claims, he was being urged to state his allegations in the courts, not on social media.
Co now faces an arrest warrant for the flood control scam in Negros Oriental and is considered at large.
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